Meeting with Moody’s positive, says Turkey’s finance minister

ISTANBUL

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Finance Minister Naci Ağbal has said he had a “positive” meeting with representatives from the Moody’s rating agency and he expected the agency’s final consideration be positive as well, unlike the recent downgrade from Standard & Poor’s, private broadcaster NTV reported on July 28.

Ağbal also said the advice of Moody’s and Fitch were compatible with the aims of the government, while the former in particular “appreciated Turkey’s success in maintaining financial discipline.”

Moody’s is expected make its final decision on Turkey’s credit note on Aug. 5.

Ratings agency S&P on July 20 downgraded Turkey's sovereign credit rating after July 15 failed coup attempt.
 
"Following the attempted coup in the Republic of Turkey on July 15, we believe the polarisation of Turkey's political landscape has further eroded its institutional checks and balances," said the agency, warning of "a period of heightened unpredictability."